Prepare For More U.S. Shale Mergers And Acquisitions

The consolidation in the U.S. shale patch is picking up pace after the crash in oil prices earlier this year.    The latest big transaction in the U.S. oil industry involved the largest independent oil and gas producer ConocoPhillips buying Permian-focused Concho Resources in an all-stock deal valued at US$9.7 billion. The transaction will create a giant shale player with combined oil production in the Permian to rival the likes of Chevron. The new ConocoPhillips will be the largest independent oil and gas company, with pro forma…